July 1, page-47

We’re are you going to see the SAS team. ?
And thanks mate I would like answered are

1 ,cost of first 8/6U satellites come to $8.5 mill AU
How is trance 2 if that was even fully subscribed be enough specially when SAS need operational cost and that’s 6 mill for a year.
The figures don’t stack up without launch cost and without second batch up.
SAS will still need minimum $14.5 million. Before revenue generating.

He told me this,
there are financial terms favourable to sky space global ,
that may be true but SAS will still need to pay operational costs $6 mill and Gomespace will want there money before handover.

I asked Meir if sas is such a huge part of Gomespace revenue worth 200 mill,
Why would Gomespace not just build the first 8 for you on TICK,
(So we can get the ball rolling)
I never new the price of first 8 so I said if the first batch is 3 mill make a deal with Gomespace when SAS making revenue you will give them double so 6 mill ?
He said they won’t do that there not that tile of people.
So that’s why I know Gomespace will want FULL money before handover and that’s 8,5 mill

So my question
1 /the 7 mill you were after from trance 2 was not enough with operational cost of 6 mill a year and Gomespace 8,5 mill you need $14,5 mill how was half that enough. ?
(If he says financial terms /payments say well won’t you still have to pay on handover no point starting them if you can’t make final payment and pick them up)

2/ if you have less than $14.5 mill will you need to come back for further funds?

3/ because this is taking longer than expected how far has the first batch been pushed back.

4/ you have lost a lot of people’s trust by the way things have turned out and promises that have not been kept what are you going to do to change sentiment.
EG
1/ all on track NOT TRUE

2/ Cr 15 mill will be enough to build launch first batch of pearls. NOT TRUE

3/ when asked at a live web cast you were asked is the 15 mill was enough he said IN SHORT YES...
NOT TRUE

4/diamond revenue/been over a year now. NOT TRUE

5/ making 300 to 500 mill by 2019 end NOT TRUE

The list goes on with the dishonesty I must of really had my blinkers on but he’s a fantastic salesman I know things slip by I know things change but if they do I believe ,
myself and everybody else that holds deserves an announcement / explanation On why things have changed.
They better go for another $10 million minimum on top of what they got now if they don’t then SAS SP will tank